Macfarlanes' Jessica Adam on mergers, female role models and client drinking
The corporate partner recalls all-night negotiations fuelled by beer and wine – at the client's demand...
August 25, 2016 at 07:20 AM
5 minute read
London corporate partner Jessica Adam is this week's Dealmaker, having acted for the chairman of London energy reporting agency Argus on the sale of a majority stake to US investor General Atlantic earlier this year. The deal, which valued Argus at around $1.45bn (£1bn), saw Macfarlanes join a host of magic circle firms to work on the transaction with a team led by Adam alongside fellow corporate partner John Dodsworth.
Why did you become a lawyer?
I watched This Life. It looked like fun.
Who has been the biggest influence on your career?
My mum. She brought up four children while juggling a successful and demanding career.
What's your proudest professional moment?
Becoming a partner. It was the culmination of many years of hard work. I remember being touched and a little surprised by just how delighted my friends and family were for me. It made me realise how much our jobs can affect the other areas of our lives and the people we are close to.
…and worst day on the job?
When the first deal I'd brought to the firm as an associate and had been working on pretty intensively for 18 months fell over. I'd become very personally invested in it and the feeling I was left with taught me a lot about caring enough but keeping perspective.
Aside from your own firm, which lawyer do you most admire and why?
Carrie Morrison. Not only was she the first woman to be admitted as a lawyer in England but – so the story goes – she did so by beating two other female contenders in a race down Chancery Lane.
What's your strongest characteristic…and worst trait?
Strongest characteristic is probably my commercial pragmatism. And that I genuinely enjoy working with other people – my colleagues, clients, other professionals.
Worst trait is I can struggle to conceal my irritation and impatience with people who focus on unnecessary point scoring rather than achieving solutions.
What advice would you give to young deal lawyers starting out?
Choose a practice area that genuinely interests you. Be enthusiastic, resilient and curious. And remember that however difficult a deal might seem, it WILL come to an end and more importantly, you will have learned something that you can take with you to the next deal.
What's the best part of your job?
The opportunity to meet a range of interesting people. The variety of the work and the constant intellectual challenge.
What most annoys you about the legal profession?
I think the profession can sometimes be guilty of an unduly conservative mindset and a lack of desire to embrace change.
What's the most unusual/shocking request you've ever had from a client?
To order several bottles of red wine and a case of beer to accompany the pizzas we had ordered at the start of an all-night negotiating session. The clients thought it would help "ease the tension in the room".
Most memorable deal you ever have worked on and why?
This is a difficult question but I'd say probably the acquisition by Slater & Gordon (S&G) of Russell Jones and Walker (RJW). There are unique dynamics associated with law firm mergers that throw up interesting challenges (and not just the fact that you have clients who send back detailed mark-ups of the transaction documents). The S&G/RJW merger was the first acquisition by a listed company of a UK law firm under the new ABS rules, so was pretty groundbreaking from that perspective.
What is the daftest bit of corporate jargon you've heard (and did you smirk)?
Not sure it's exactly corporate jargon but I have a client who regularly emails to say "hit me up". I think they mean "please can you give me a call".
Do you see yourself having a career outside law?
I've always had a romantic vision of being a writer tucked away in the corner of a north London cafe scribbling furiously in a notepad. (And obviously then being the subject of a heated bidding war, being offered a huge advance and feted by Hollywood producers who want to turn my bestselling book into a major film).
What's your favourite item of clothing?
Anything in black.
It's midnight and you're in the office for the night – where's your takeaway from?
Tootoomoo in Crouch End if I'm feeling healthy. Dirty Burger if I'm not.
What are your desert island discs?
Probably Teenage Fanclub for relaxing on the beach and then Basement Jaxx for the beach party.
Favourite boxset?
I'm terrible with boxsets. I never get beyond the third episode.
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